Guideline Value for Block 5 Thirunagar Colony Road No.1,2

Block 5 Thirunagar Colony Road No.1,2 guideline value

The current guideline value for Block 5 Thirunagar Colony Road No.1,2 is Rs 2,200 per sq.ft, effective from 1 July 2024. This property is located in the Erode Joint I SRO and is classified as Residential Special Type - I.

How the guideline value of Block 5 Thirunagar Colony Road No.1,2 has changed

The guideline value for Block 5 Thirunagar Colony Road No.1,2 has undergone several revisions over the years. The earliest recorded figure is from 2002, which was Rs 105 per sq.ft. This increased significantly to Rs 518 per sq.ft in 2003, marking a 393% rise. Following this, the value continued to increase, reaching Rs 750 per sq.ft in 2007, which is a 45% increase from the previous year.

In 2012, the guideline value adjusted to Rs 1,500 per sq.ft, reflecting a decrease of 11% from the 2007 figure. However, this was followed by a substantial increase to Rs 1,340 per sq.ft in 2017, which was a 49% rise. The most recent revisions show the value at Rs 2,000 per sq.ft in 2023, and it has now increased to Rs 2,200 per sq.ft in 2024, representing a 10% increase. The register has no figure for this street for the years not mentioned.

Guideline values in Ward A

In Ward A, there are 111 streets under the Erode Joint I SRO that carry a 2024 guideline value, ranging from Rs 770 to Rs 6,600 per sq.ft. The median value is Rs 1,375 per sq.ft, placing Block 5 Thirunagar Colony Road No.1,2 above this median.

• Block 5 Thirunagar Colony: Rs 2,200 per sq.ft (2024)
• Block 6 Chinnappalayout: Rs 825 per sq.ft (2024)
• Block 6 E.M.Balasubramaniam Road: Rs 1,100 per sq.ft (2024)
• Block 6 K.N.Kuppusamy Pillai Road Main Road: Rs 2,750 per sq.ft (2024)
• Block 5 E.M.Balasubramaniam Road: Rs 1,100 per sq.ft (2024)
• Block 4 State Bank Colony: Rs 1,375 per sq.ft (2024)

Stamp duty and registration fee for property in Block 5 Thirunagar Colony Road No.1,2

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 5 Thirunagar Colony Road No.1,2?

The Sub Registrar Office that covers Block 5 Thirunagar Colony Road No.1,2 is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Ward A

The guideline value is a critical factor in the property registration process in Ward A. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transactions are transparent and standardized.

When buying or selling property in this area, the guideline value will influence the stamp duty and registration fees applicable. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the actual sale price, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Block 5 Thirunagar Colony Road No.1,2?

The current guideline value for Block 5 Thirunagar Colony Road No.1,2 is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 105 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1995% across the years.

What is the classification of land in Block 5 Thirunagar Colony Road No.1,2?

The land classification for Block 5 Thirunagar Colony Road No.1,2 is Residential Special Type - I.

Where can I find the registration office for this area?

The registration office for Block 5 Thirunagar Colony Road No.1,2 is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 22,00,000, the stamp duty at 7% would be Rs 1,54,000.